North Augusta leaders explain Project Jackson financing

NORTH AUGUSTA, SC (WFXG) -

The Aiken County School Board will
decide Tuesday if they will support the financing for Project Jackson.

North Augusta city leaders will present them with a plan
to finance the project, which would cost about $150 million to build a minor
league baseball stadium, high-class hotel and retail for the riverfront.

The agenda for the meeting states the financing "concept
is not well understood by the general public."

But North Augusta City Administrator
Todd Glover says that's not how Project Jackson will be paid for.

"No one will see their taxes go
up," he said.

Glover says it's probably easy for
people to become confused or misinformed because it's a complicating subject.

"It's not easy to explain in a minute
or two minute news story," Glover, said.

The city of North Augusta would like
to freeze property values for the riverfront property for 15 years where
Project Jackson would be built.

During that time period, the school
board won't lose a penny; they will continue to get $3,500 from property taxes.
Project Jackson will get the rest; Glover says the school board will get about $1
million per year after the 15 year time constraint ends.

Glover says they also plan to receive
about $100 million in private investments for Project Jackson.

After hearing how the project will be
paid for, Fields said he's on board, "That's what's up; you know what I'm
saying? My kids go to these schools and that would help better the schools in
the area; can't beat that," he said.

Glover says they will also ask the
county for their support on August 20.

The highly anticipated Solar Eclipse has just about everyone trying to get ready to see what some say is a once in a lifetime experience next Monday. If you're planning to watch it with friends or family, you know you must protect your eyes.

The highly anticipated Solar Eclipse has just about everyone trying to get ready to see what some say is a once in a lifetime experience next Monday. If you're planning to watch it with friends or family, you know you must protect your eyes.